Protalix Biother Financials
This page shows Protalix Biother (PLX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A cash-generating rebound in FY2024 gave way to a working-capital-and-R&D financed setback in FY2025.
FY2024 looked like a real operating reset because earnings, operating cash flow, and free cash flow all turned positive together. FY2025 broke that alignment: revenue was essentially flat year over year, yet free cash flow fell from$7.4M to-$13.6M as gross margin compressed and R&D spending stepped back up, showing that profitability still depends more on expense intensity and working-capital timing than on steady sales alone.
Headline liquidity overstates cash flexibility: the current ratio reached 2.5x, which points to adequate near-term coverage. But only
The balance sheet is still carrying losses without heavy leverage: liabilities of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Protalix Biother's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Protalix Biother scores -2.18, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($191.0M) relative to total liabilities ($34.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Protalix Biother passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). No profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Protalix Biother generates $1.82 in operating cash flow (-$12.0M OCF vs -$6.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Protalix Biother generated $52.7M in revenue in fiscal year 2025. This represents a decrease of 1.2% from the prior year.
Protalix Biother's EBITDA was -$4.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 177.3% from the prior year.
Protalix Biother reported -$6.6M in net income in fiscal year 2025. This represents a decrease of 325.2% from the prior year.
Protalix Biother earned $-0.08 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 300.0% from the prior year.
Cash & Balance Sheet
Protalix Biother generated -$13.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 284.4% from the prior year.
Protalix Biother held $14.7M in cash against $0 in long-term debt as of fiscal year 2025.
Protalix Biother had 80M shares outstanding in fiscal year 2025. This represents an increase of 6.0% from the prior year.
Margins & Returns
Protalix Biother's gross margin was 48.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 5.6 percentage points from the prior year.
Protalix Biother's operating margin was -10.4% in fiscal year 2025, reflecting core business profitability. This is down 17.8 percentage points from the prior year.
Protalix Biother's net profit margin was -12.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 18.0 percentage points from the prior year.
Protalix Biother's ROE was -13.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 20.5 percentage points from the prior year.
Capital Allocation
Protalix Biother invested $19.6M in research and development in fiscal year 2025. This represents an increase of 50.9% from the prior year.
Protalix Biother invested $1.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 27.8% from the prior year.
PLX Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $33.8M+270.0% | $9.1M-48.9% | $17.9M+14.0% | $15.7M+54.8% | $10.1M-44.5% | $18.2M+1.4% | $18.0M+33.3% | $13.5M |
| Cost of Revenue | $4.1M-10.7% | $4.6M-44.5% | $8.3M+41.8% | $5.9M-28.2% | $8.2M+110.5% | $3.9M-53.6% | $8.4M-11.4% | $9.5M |
| Gross Profit | $29.6M+557.9% | $4.5M-52.7% | $9.5M-2.7% | $9.8M+406.4% | $1.9M-86.5% | $14.3M+49.5% | $9.6M+138.5% | $4.0M |
| R&D Expenses | $5.4M-3.7% | $5.6M+26.1% | $4.5M-25.5% | $6.0M+72.4% | $3.5M-15.7% | $4.1M+37.6% | $3.0M+1.2% | $3.0M |
| SG&A Expenses | $3.1M-13.5% | $3.5M+20.4% | $2.9M+11.6% | $2.6M+0.8% | $2.6M-13.2% | $3.0M+15.6% | $2.6M-25.5% | $3.5M |
| Operating Income | $21.1M+554.0% | -$4.7M-318.6% | $2.1M+81.8% | $1.2M+128.3% | -$4.1M-157.5% | $7.2M+80.6% | $4.0M+264.4% | -$2.4M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $2.8M+287.9% | $728K+727.6% | -$116K-123.3% | $497K+539.8% | -$113K-113.7% | $822K+35.4% | $607K+979.7% | -$69K |
| Net Income | $18.3M+432.8% | -$5.5M-333.7% | $2.4M+1336.0% | $164K+104.5% | -$3.6M-155.7% | $6.5M+100.7% | $3.2M+246.9% | -$2.2M |
| EPS (Diluted) | $0.22 | N/A | $0.03 | $0.00+100.0% | $-0.05 | N/A | $0.03+200.0% | $-0.03 |
PLX Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $102.3M+24.3% | $82.3M+0.1% | $82.3M+4.8% | $78.5M+6.2% | $73.9M+0.6% | $73.4M+19.3% | $61.6M-32.7% | $91.5M |
| Current Assets | $86.4M+29.5% | $66.7M+0.3% | $66.5M+1.6% | $65.5M+8.2% | $60.5M+0.7% | $60.1M+25.5% | $47.9M-38.1% | $77.4M |
| Cash & Equivalents | $41.0M+179.3% | $14.7M+7.6% | $13.6M-23.7% | $17.9M-8.0% | $19.5M-1.5% | $19.8M-27.9% | $27.4M+17.1% | $23.4M |
| Inventory | $30.5M+18.4% | $25.7M+21.0% | $21.3M+0.6% | $21.1M+8.3% | $19.5M-8.2% | $21.2M+23.5% | $17.2M-17.0% | $20.7M |
| Accounts Receivable | $2.9M-66.8% | $8.8M-38.7% | $14.4M+52.8% | $9.4M+102.0% | $4.7M+60.7% | $2.9M+32.5% | $2.2M-78.3% | $10.1M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $35.1M+2.9% | $34.1M+16.2% | $29.4M+2.7% | $28.6M-0.4% | $28.7M-5.0% | $30.2M+3.7% | $29.1M-53.7% | $63.0M |
| Current Liabilities | $27.4M+3.3% | $26.5M+20.8% | $21.9M-8.9% | $24.1M-0.9% | $24.3M-5.1% | $25.6M+5.8% | $24.2M-58.2% | $58.0M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $67.2M+39.4% | $48.2M-8.8% | $52.9M+6.0% | $49.9M+10.4% | $45.2M+4.6% | $43.2M+33.2% | $32.4M+13.5% | $28.6M |
| Retained Earnings | N/A | -$385.0M | N/A | N/A | N/A | -$378.4M | N/A | N/A |
PLX Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $22.0M+985.0% | $2.0M+154.4% | -$3.7M+28.7% | -$5.2M-3.5% | -$5.1M-226.7% | $4.0M-2.8% | $4.1M+213.7% | -$3.6M |
| Capital Expenditures | $761K+88.8% | $403K-19.1% | $498K+15.5% | $431K+40.8% | $306K-28.0% | $425K+388.5% | $87K-49.4% | $172K |
| Free Cash Flow | $21.3M+1206.9% | $1.6M+138.5% | -$4.2M+25.3% | -$5.7M-5.6% | -$5.4M-250.4% | $3.6M-11.2% | $4.0M+206.2% | -$3.8M |
| Investing Cash Flow | $4.2M+479.8% | -$1.1M-120.6% | -$504K-15.1% | -$438K-40.4% | -$312K+98.0% | -$15.3M-175.4% | $20.3M+11392.8% | -$180K |
| Financing Cash Flow | $150K+2.7% | $146K | $0-100.0% | $4.1M-19.1% | $5.1M+40.0% | $3.6M | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PLX Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.8%+38.4pp | 49.4%-4.0pp | 53.4%-9.1pp | 62.5%+43.4pp | 19.1%-59.6pp | 78.7%+25.3pp | 53.4%+23.5pp | 29.8% |
| Operating Margin | 62.6%+113.7pp | -51.1%-63.0pp | 11.9%+4.5pp | 7.5%+48.5pp | -41.0%-80.6pp | 39.6%+17.3pp | 22.2%+40.2pp | -18.0% |
| Net Margin | 54.3%+114.6pp | -60.3%-73.5pp | 13.2%+12.1pp | 1.1%+36.8pp | -35.8%-71.4pp | 35.6%+17.6pp | 18.0%+34.4pp | -16.4% |
| Return on Equity | 27.3%+38.7pp | -11.4%-15.9pp | 4.5%+4.1pp | 0.3%+8.3pp | -8.0%-23.0pp | 15.0%+5.0pp | 10.0%+17.7pp | -7.7% |
| Return on Assets | 17.9%+24.6pp | -6.7%-9.5pp | 2.9%+2.6pp | 0.2%+5.1pp | -4.9%-13.8pp | 8.8%+3.6pp | 5.3%+7.7pp | -2.4% |
| Current Ratio | 3.15+0.6 | 2.51-0.5 | 3.03+0.3 | 2.72+0.2 | 2.49+0.1 | 2.34+0.4 | 1.98+0.6 | 1.33 |
| Debt-to-Equity | 0.52-0.2 | 0.71+0.2 | 0.55-0.0 | 0.57-0.1 | 0.63-0.1 | 0.70-0.2 | 0.90-1.3 | 2.20 |
| FCF Margin | 63.0%+45.2pp | 17.8%+41.5pp | -23.7%+12.5pp | -36.2%+16.9pp | -53.0%-72.6pp | 19.6%-2.8pp | 22.4%+50.4pp | -28.1% |
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Frequently Asked Questions
What is Protalix Biother's annual revenue?
Protalix Biother (PLX) reported $52.7M in total revenue for fiscal year 2025. This represents a -1.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Protalix Biother's revenue growing?
Protalix Biother (PLX) revenue declined by 1.2% year-over-year, from $53.4M to $52.7M in fiscal year 2025.
Is Protalix Biother profitable?
No, Protalix Biother (PLX) reported a net income of -$6.6M in fiscal year 2025, with a net profit margin of -12.5%.
What is Protalix Biother's EBITDA?
Protalix Biother (PLX) had EBITDA of -$4.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Protalix Biother's gross margin?
Protalix Biother (PLX) had a gross margin of 48.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Protalix Biother's operating margin?
Protalix Biother (PLX) had an operating margin of -10.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Protalix Biother's net profit margin?
Protalix Biother (PLX) had a net profit margin of -12.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Protalix Biother's return on equity (ROE)?
Protalix Biother (PLX) has a return on equity of -13.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Protalix Biother's free cash flow?
Protalix Biother (PLX) generated -$13.6M in free cash flow during fiscal year 2025. This represents a -284.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Protalix Biother's operating cash flow?
Protalix Biother (PLX) generated -$12.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Protalix Biother's total assets?
Protalix Biother (PLX) had $82.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Protalix Biother's capital expenditures?
Protalix Biother (PLX) invested $1.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Protalix Biother spend on research and development?
Protalix Biother (PLX) invested $19.6M in research and development during fiscal year 2025.
What is Protalix Biother's current ratio?
Protalix Biother (PLX) had a current ratio of 2.51 as of fiscal year 2025, which is generally considered healthy.
What is Protalix Biother's debt-to-equity ratio?
Protalix Biother (PLX) had a debt-to-equity ratio of 0.71 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Protalix Biother's return on assets (ROA)?
Protalix Biother (PLX) had a return on assets of -8.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Protalix Biother's cash runway?
Based on fiscal year 2025 data, Protalix Biother (PLX) had $14.7M in cash against an annual operating cash burn of $12.0M. This gives an estimated cash runway of approximately 15 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Protalix Biother's Altman Z-Score?
Protalix Biother (PLX) has an Altman Z-Score of -2.18, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Protalix Biother's Piotroski F-Score?
Protalix Biother (PLX) has a Piotroski F-Score of 1 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Protalix Biother's earnings high quality?
Protalix Biother (PLX) has an earnings quality ratio of 1.82x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Protalix Biother?
Protalix Biother (PLX) scores 44 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.